Ajay Narayan Bhoir Vs ACIT (ITAT Mumbai) In case of return of income processed under section 143(1), the only condition to be satisfied for reopening is that taxable income has escaped assessment and the assessee’s plea that no fresh material was there before the AO warranting re-opening, was not relevant. FULL TEXT OF THE ITAT […]
Where assessee had claimed depreciation on building at revalued figures and later on withdrawn the excess depreciation during the course of assessment proceedings to buy peace, the imposition of penalty under section 271(1)(c) was invalid because mere making of wrong claim would not automatically lead to an inference of furnishing inaccurate particulars or concealment of income.
PCIT Vs Oberoi Hotels Pvt. Ltd. (Calcutta High Court) Section 292BB does not dispense with issuance of any notice that is mandated to be issued under the Act, but merely cures the defect of service of such notice if an objection in such regard is not taken before completion of assessment or reassessment as time […]
In re M/s C M Enviro Systems Private Limited (GST AAR Karnataka) Applicant has sought for Advance Ruling on the question that Can our product be classified as Scientific ek Technical Instruments, Equipments under a relevant Chapter Headingt. But the Applicant requested to permit them to withdraw the application filed for advance ruling vide their […]
Ever since GST implemented from 01st July 2017 there were several rumours and anticipation for GST Annual return and reconciliation of Annual return with GST Audit. Government has through Notification number 39/2018-CT dated 04.09.2018 and Notification number 49/2018 -CT dated 13.09.2018 have notified GSTR 9 & 9A (Annual Return for Regular & Composite dealer) and GSTR 9C (GST Audit Form), respectively.
Q1. What is Legal provision for filling GST Annual Return? Ans. Legal requirement of filing Annual return hereafter called GSTR-9 is governed by section 35(5) and section 44(1) of CGST Act. Section 44(1) of CGST Act read with Rule 80(1) of CGST Rules requires that every Registered person other than – an Input Service Distributor, […]
In re The Association of Inner Wheel Clubs in India (GST AAR Kolkata) The Applicant’s activities involve supply of services classifiable under SAC Heading 99959 against consideration received in the form of subscription and membership fees. Services classifiable under SAC Heading 99836 are also supplied. Sale of souvenirs is to be considered as a supply […]
Issuance of notice under section 153C is mandatory and a condition precedent for taking action against assessee under section 153C, therefore, assessment order under section 153C issued without issuing a notice under section 153C was bad in law.
M/s. Neha Home Builders Pvt. Ltd. Vs DCIT (ITAT Mumbai) Since assessee was neither the beneficial nor the registered shareholder of the company, the amount so received is not liable to be taxed as deemed dividend. Moreover, the transaction between two group concerns were in the nature of current account and inter banking account containing […]
ince CIT(A) had erred in dismissing appeal filed manually by assessee. CIT(A) was directed to admit appeal filed by assessee by directing assessee to file its appeal in electronic format and also to condone delay
